“A Reuters analysis of U.S. household data shows that the bottom 60 percent of income-earners have accounted for most of the rise in spending over the past two years even as the their finances worsened – a break with a decades-old trend where the top 40 percent had primarily fueled consumption growth.”
Related posts:
Bag with bomb was at FBI building guard desk for weeks
Top Treasury Official: 'Too Big to Fail' Bailouts Are Over
A complete U.S. withdrawal from Afghanistan in 2014? Don’t count on it
Norway to Start Withdrawals From Oil Fund to Plug Deficits
Former Fed chief Alan Greenspan warns of bond market bubble
T.S.A. Expands Duties Beyond Airport Security
Greek Banks Reopen but Cash Limits Remain and Taxes Soar
EMC raises $5.5bn via corporate bonds to fund share buybacks
Most Americans fear anti-aging technology is luxury for the rich
Iraq war killed 120,000 and cost $800 billion, study estimates
Welfare States: Federal Grants Now a Third of State Revenue
Charges reduced for officer who ran over teens while fiddling with phone
Nick Clegg's wealth tax is latest plan to make rich pay more
Court: Iceland doesn’t need to repay UK and Dutch depositors
Argentina Raises Tax on Foreign Credit Card Purchases to 35%